Fla. Firm Cuts Deal With SEC To End $410M IPO Fraud Claims
By Dorothy Atkins (May 27, 2022, 7:59 PM EDT) -- Florida-based StraightPath Venture Partners and its founders have cut a deal to end the U.S. Securities and Exchange Commission's claims the firm fraudulently raised at least $410 million from investors by falsely promising potentially lucrative pre-IPO shares in companies, according to a letter filed in New York federal court Thursday.
In a letter filed jointly by the SEC and the defendants and written by SEC lawyer Lee Greenwood, the parties told U.S. District Judge Lewis A. Kaplan that they reached a settlement "in principle" under which three of the four individual defendants have agreed to have their assets frozen and they've...
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